Could be..... Who Knows...
At times like this a song from West Side Story goes through my head. You know, "Could be.... Who knows.... There's Something Good.. On its Way... I will know... Right away.... Soon as it showwwwwwws." That music came to mind today as I read the FinancialWire website, in which I saw an interesting snippet.
The headline of the item was "StockGate: Has Canada Admitted It Has Been Aiding And Abetting Short Sales; New Events Tonight?"
The most prominent battler against manipulative trading, Patrick Byrne, CEO of Overstock.com has told FinancialWire to expect important new developments tonight, but did not say what he expects to occur.
Some have expected the subpoenas to journalists issued by the SEC to be reactivated, with the full support of SEC Commission Chair Christopher Cox, and some have speculated that General Electric (NYSE: GE), may suspend CNBC's Mad Money due to Cramer's public display of disrespect for legal authority in the face of the SEC subpoenas, capped by his writing BULL on the face of his and cavalierly tossing it to the floor while on-air, possibly leaving him the latest reincarnation of Lonesome Rhodes, a character in A Face in the Crowd.
I should point out that I don't ordinarily read Financialwire every day. I got wind of this item because it was splashed all over Internet message boards, where it was picked up by a reader and sent to me. I also see that Byrne posted a tantalizing tidbit on a Motley Fool message board late last night, saying "Big story breaking next 24 hours. Stay tuned.."
I've got to hand it to Patrick Byrne -- as before, he really knows how to get the word out. No ordinary methods of information-dissemination for this gentleman. I certainly hope what he's doing is strictly in accordance with the securities laws, because I think news releases with Sarbanes-Oxley language at the bottom is strictly passe'. I'd like to see more corporate CEOs doing this, particularly when, in this instance, it is quickly seized upon by message-board touts as a way of pushing up Overstock's share price.
Let's keep those innuendos coming! After all, something's coming I don't know what it is... but it is .... gonna be great!
Wall Street Versus America will be published by Penguin USA on April 6.
Click here for its Amazon.com listing and here for more information on the book, from my web site.